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February 10, 2010

FT: Rothschild appoints outsider as CEO

By Spear's

The Rothschild banking dynasty is to appoint a non-family member as chief executive for the first time in its 212-year history, as the group seeks to adapt its management structure to the post-crisis climate.

The Rothschild banking dynasty is to appoint a non-family member as chief executive for the first time in its 212-year history, as the group seeks to adapt its management structure to the post-crisis climate.

Nigel Higgins, a 27-year veteran of the company who has co-headed the investment banking business for the past decade, will become chief executive of the family holding company in March, taking over from David de Rothschild.

Mr Rothschild – he and his son are the only two Rothschild family members involved in the business – will remain as executive chairman.

“We all know that organisations that stay static and don’t change go backwards, not forwards,” Mr Rothschild told the Financial Times.

To read the full story, visit ft.com

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